RICHMOND, Va., Feb. 6, 2017 /PRNewswire/ -- Dominion Resources, Inc. (NYSE: D) announced today it intends to change its name to Dominion Energy, Inc., in recognition of its focus on the evolving energy marketplace and to unify its brand following last year's merger with Questar Corporation. The company also unveiled a new logo befitting its new name.
"Dominion above all else is an energy company, committed to serving our customers safely and dependably," said Thomas F. Farrell II, chairman, president and chief executive officer. "Our company and our employees are proud of the work we have done in delivering energy for 119 years and of the reputation we have built through reliable and affordable service. Dominion Energy builds upon this equity, updates our company's look and unifies the company's brand across all of our lines of business and throughout the 18 states where we do business."
The changes will be made later this year, pending approval of shareholders of the name change at the Annual Meeting this spring. The company's 2017 Proxy Statement, which is expected to be filed in March, will contain information regarding the proposed change.
Dominion Resources was created in 1983 as a holding company for its electric and natural gas utilities, a services company and a subsidiary that was entering the natural gas exploration and production business.
The current logo was introduced just prior to the merger with Consolidated Natural Gas in 2000. The new logo retains a "D" shape while modernizing the look with stripes suggesting energy through the blue silhouette. It was designed by the global branding firm of Chermayeff & Geismar & Haviv, the design firm behind many of the world's most recognizable trademarks – including Chase, NBC, State Farm, National Geographic, PBS, the Smithsonian and the Library of Congress.
"A logo is a company's most focused public presentation — its flag," said Sagi Haviv, partner and designer at Chermayeff & Geismar & Haviv. "We designed the new Dominion Energy logo as an evolution of the company's visual heritage, while reflecting the vibrancy and changes occurring in the energy industry. Building on the established and familiar Dominion brand mark, we simplified the rising 'D' and infused it with energy. The new, bold and distinctive symbol is now suited to represent a leading energy provider."
"Over the years, Dominion has expanded to serve new markets with a broader range of services," said Kelly O'Keefe, head of creative brand management at Virginia Commonwealth University's Brandcenter, the country's leading branding school. "This is a good time to unify the brand, clarify the name and simplify the logo. The updated name is more recognizable and the new logo is simple, fresh and timeless." O'Keefe guided the company's rebranding.
After the annual meeting, the company would begin implementation, including replacing logos on company facilities and service vehicles and changing its "doing business as" names in Idaho, North Carolina, Ohio, Utah, Virginia, West Virginia and Wyoming — where its gas and electric distribution companies reside. The company's new principal operating units – Power Delivery Group, Power Generation Group and Gas Infrastructure Group – would replace Dominion Virginia Power, Dominion Generation and Dominion Energy, respectively.
The company's shares of common stock will continue to be traded on the New York Stock Exchange under the ticker symbol "D."
For more information regarding the company's branding efforts, please visit www.dom.com/NewBrand.
Dominion is one of the nation's largest producers and transporters of energy, with a portfolio of approximately 26,400 megawatts of generation, 14,600 miles of natural gas transmission, gathering and storage pipeline, and 6,600 miles of electric transmission lines. Dominion operates one of the nation's largest natural gas storage systems with 1 trillion cubic feet of storage capacity and serves more than 6 million utility and retail energy customers. For more information, visit www.dom.com.
Additional information and where to find it
This communication may be deemed to be solicitation material in respect of the shareholder vote on the corporate name change. Dominion intends to file a proxy statement with the U.S. Securities and Exchange Commission ("SEC") in connection with the 2017 Annual Meeting of Shareholders. INVESTORS AND SECURITY HOLDERS OF DOMINION ARE URGED TO READ THE PROXY STATEMENT, ACCOMPANYING PROXY CARD AND OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Shareholders will be able to obtain that proxy statement, any amendments or supplements thereto and other documents filed by Dominion with the SEC free of charge at the SEC's website (www.sec.gov). These items also may be viewed by visiting Dominion's website (www.dom.com).
Participants in the solicitation
Dominion and its directors and officers may be deemed to be participants in the solicitation of proxies from Dominion shareholders with respect to the corporate name change and other matters to be considered at the 2017 Annual Meeting of Shareholders. Information about the directors and executive officers of Dominion, including their respective interests by security holdings or otherwise, is available in Dominion's (i) Proxy Statement, dated March 22, 2016, for its 2016 Annual Meeting of Shareholders, (ii) Annual Report on Form 10-K for the year ended Dec. 31, 2015, filed with the SEC on Feb. 26, 2016, and (iii) Current Report on Form 8-K filed, filed with the SEC on Jan. 24, 2017, each of which are available free of charge at the SEC's website and Dominion's website.
For further information: Media - Ryan Frazier, (804) 819-2521 or C.Ryan.Frazier@dom.com | Financial analysts - Kristy Babcock, (804) 819-2492 or Kristy.R.Babcock@dom.com